Key regions: Spain, Canada, Japan, South Korea, Russia
The Confectionery market in GCC has shown minimal growth due to factors such as increasing health consciousness among consumers and the convenience of online shopping. However, the sub-markets of Chocolate, Sugar, Ice Cream and Preserved Pastry Goods & Cakes may still experience growth due to their popularity in the region.
Customer preferences: Consumers in the Confectionery Market of the Confectionery & Snacks Market within The Food market are becoming more health-conscious and are seeking healthier snack options. This has led to a rise in demand for organic, gluten-free, and low-sugar confectionery products. Additionally, there is a growing trend of plant-based and vegan confectionery, driven by consumers' ethical and environmental concerns. Manufacturers are also incorporating functional ingredients, such as probiotics and superfoods, to cater to the demand for healthier indulgences.
Trends in the market: In the GCC Confectionery Market, there is a growing trend of consumers shifting towards healthier options, such as sugar-free and organic confectionery products. This trend is driven by increasing health consciousness and the demand for clean label and natural ingredients. As a result, manufacturers are introducing new product lines and reformulating existing ones to cater to this demand. This trend is expected to continue in the coming years, with potential implications for stakeholders including a shift in consumer preferences, potential market growth opportunities, and the need for innovative product development and marketing strategies.
Local special circumstances: In the GCC region, the Confectionery market is heavily influenced by the cultural preference for sweets and desserts. This has led to a wide variety of local confectionery options, such as traditional Arabic sweets and dates, which are popular among both locals and tourists. Additionally, strict halal regulations in the region have resulted in a demand for halal-certified confectionery products. The hot and humid climate also presents challenges for storage and distribution, leading to a focus on locally produced and consumed confectionery items.
Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is also influenced by macroeconomic factors such as consumer spending patterns, population demographics, and disposable income levels. Countries with growing economies and a rising middle class are experiencing higher demand for confectionery products, as consumers have more disposable income to spend on indulgent treats. Additionally, the global trend towards healthier snacking options is impacting the confectionery market, as consumers are seeking out products with natural ingredients and lower sugar content. Government policies on food labeling and advertising also play a role in shaping consumer preferences and driving market performance.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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